In the past, various plans have been proposed to develop Governors Island, however all have relied heavily on government support. This study intends to present a plan that will create a public space devoid of any outside financial support so that Governors Island will be economically selfsustainable. It is determined that any plan must include provisions for residential development to avoid the use of government subsidies and therefore tax payer dollars. The Capstone team lays out a strategy on three key fronts: (1) identifying those portions of the island which need to be addressed immediately in the most cost effective manner in order to attract private investment; (2) identifying methods of encouraging development that will lead to a self sustainable island without sacrificing aesthetics or cultural amenities; and (3) presenting development scenarios, as dictated by the Governors Island deed, that are economically viable.